Summary: Mahoning County, Ohio; General Obligation; Note

S&P Global Ratings assigned its 'AA-' long-term rating to Mahoning County, Ohio's $7.3 million and $1.3 million series 2020 general obligation (GO) various improvement and refunding and taxable various-purpose improvement bonds, respectively. At the same time, we assigned our 'SP-1+' short-term rating to the county's $10.185 million 2020 GO various-purpose notes. We also affirmed our 'AA-' long-term rating on the county's existing GO bonds. The rating outlook is stable. The series 2020 GO bonds and notes are secured by the county's full faith credit and resources and an agreement to levy ad valorem property taxes within state limitations (i.e., a limited-tax GO pledge). We rate the county's limited-tax bonds based on our view of its general creditworthiness, given that ad

...S&P Global Ratings assigned its '##-' long-term rating to Mahoning County, Ohio's $7.3 million and $1.3 million series 2020 general obligation (GO) various improvement and refunding and taxable various-purpose improvement bonds, respectively. At the same time, we assigned our 'SP-1+' short-term rating to the county's $10.185 million 2020 GO various-purpose notes. We also affirmed our '##-' long-term rating on the county's existing GO bonds. The rating outlook is stable. The series 2020 GO bonds and notes are secured by the county's full faith credit and resources and an agreement to levy ad valorem property taxes within state limitations (i.e., a limited-tax GO pledge). We rate the county's limited-tax bonds based on our view of its general creditworthiness, given that ad valorem taxes are collected from the county's entire tax base and because of a lack of limitations on the fungibility of resources available for debt service. It is our understanding that bond proceeds for the series 2020...

Summary